July 21, 2010

The Cycle of Government Interventionism

Ezra Klein and Jonathan Chait argue the only way government could reduce inefficient Medicare spending was to create a new health care entitlement program. Think about that.

It's the typical cycle of government intervention at work: first, regulation is passed or programs are enacted "for the common good"; next, the regulation or program inevitably fails; the private sector takes a beating; the economy turns down, at which point more regulation is proposed and an expansion of government pushed through, all in order to save society from the ills of human greed and the free market.

More government however won't fix health care. The only viable and the only moral alternative is to privatize health care entirely.

In a free market, patients chose their own doctor and doctors chose their patients. Without the interference of any regulator, patients will be able to receive the best care their money can buy, with the doctor's voluntary consent. Quite probably, millions of people will be left uninsured but without a government to protect them against their own irresponsibility; without any element of coercion, health care can be affordable.